All Forum Posts by: Natasha Onochie

Quote from @Steve K.: I agree, there isn't a point of having an LLC if you aren't going to treat it as seperate from your personal. Thank you for sharing your thoughts! Its in Playa del Carmen :-)

Personally I think setting up an LLC for just one property is overkill and unnecessary, especially because many investors handle their LLC's in such a way that it makes them completely useless anyway (not having a separate bank account for the LLC, co-mingling business/LLC funds with personal, having insurance policy or mortgage in your personal name, not treating the LLC like it is it's own separate business, a sole-owner LLC where it's obvious you're the owner won't really help in a lawsuit anyway, etc.). A series LLC would be extra unnecessary IMO. Most of the time a robust umbrella insurance policy should suffice.

Additionally, I don't think an LLC is even appropriate here because you technically don't own the property. A fideicomiso is like a bank trust. The bank holds the legal title and you are the beneficiary of the fideicomiso/trust because you own the rights to it. In an LLC, the members are the legal owners. They are different ownership structures. So I don't see the benefit of adding an LLC to the mix here, and definitely not a series LLC. Waste of time and money IMO. But you might want to talk to a professional who specializes in legal structures to be sure.

Where is the property in Mexico? Me encanta Mexico.

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P.S. — If anyone has experience specifically transferring property held in a fideicomiso into an LLC (or structuring it for better protection/tax purposes), I'd love to hear how you handled it!

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Hey BP Community!

Super excited — I just closed on my first investment property (in Mexico)! I’m still in the process of finding a solid business/tax attorney, but figured I'd ask for some advice here in the meantime.

I've seen a lot of investors recommend setting up a separate LLC for each property. I recently learned about Series LLCs too, and it seems like it could be a better long-term setup for me. I already have an LLC that I formed last year with the goal of using it for real estate investments. Now I'm thinking about converting it into a Series LLC.

When I bought the Mexico property, I purchased it under my personal SSN through a fideicomiso, as required under Mexican law. Now I'm wondering — should I transfer the ownership into my LLC? And if so, what's the best way to structure that (especially with the international piece involved)?

Would really appreciate any advice, experience, or things to watch out for!

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thank you @Brandon Sturgill

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@Brandon Sturgill yes on my primary residence

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Hi All, looking for some information on tax laws, as well as any guidance on how to protect the proceeds from the sale of my home from being eaten up by the IRS. Looking to use the proceeds to get into an REI deal (s), but haven't identified any specific deals as of yet.

Thanks in advance!

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Thank you everyone for your feed back! @James McCard your experience was helpful. We bought at $230k, did some upgrades and the house then appraised at $330k. We've owned it 5 years now and if we were to sell we'd list at $385 based upon neighborhood comps.

Again thank you everyone for your feedback.

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My name is Natasha and husband and I have a lot of equity in our primary residence (located in MD) and would like to do a cash out re-fi to get rid of the PMI on the loan and jump into the REI game. However, we have yet to actually jump because our credit isn't the strongest and I would like a few more months to get my credit score higher. Curious to hear anyone else's experiences and/or guidance.

We are new to the SLC area, would love to hear from folks in the market.

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All Forum Posts by: Natasha Onochie

Natasha Onochie has started 3 posts and replied 9 times.

Post: Series LLC vs LLC

Post: Series LLC vs LLC

Post: Series LLC vs LLC

Post: Series LLC vs LLC

Post: Proceeds from sale of home

Post: Proceeds from sale of home

Post: Proceeds from sale of home

Post: Ready to Jump Into REI....but...

Post: Ready to Jump Into REI....but...